When I logged into the AMEX BCP redemption page today, I noticed a message saying that starting July 7, earned cash back will no longer be redeemable for gift cards or merchandise. The option to redeem for statement credits will remain available. In practice, almost nobody redeems for full-price merchandise or gift cards anyway, since both can often be bought at a discount. But could this change signal other changes coming to the BCP and BCE credit cards? After all, these two cards are meant for everyday spending, and their cash-back rates are a bit less competitive than some other cards.
Effective July 7, 2021, you will no longer be able to redeem Reward Dollars for gift cards or merchandise.You will still be able to redeem for statement credits.
AMEX Blue Cash Everyday Credit Card
3% cash back at supermarkets; no annual fee! Now includes up to $260 in annual credits!
- Welcome bonus: Up to $200 cash back (spend $2,000 in the first 6 months)
- Rewards: 3% cash back at supermarkets, online shopping, and gas stations (on up to $6,000 in purchases per year in each category), 1% on all other purchases
- Redemption: Can be redeemed directly for cash back; discounted gift card redemptions are sometimes available
- Annual fee: $0
- Apply now>>
AMEX Blue Cash Preferred Credit Card
6% cash back at supermarkets and on streaming services! Added $84 annual credit!
- Welcome bonus: $300 after you spend $3,000 in purchases on your new Card within the first 6 months of Card Membership.
- Rewards: 6% at supermarkets (up to $6,000); 6% on streaming services; 3% on transit and gas; 1% on everything else
- Redemption: Can be redeemed for cash back directly; discounted gift card redemptions occasionally available
- Annual fee: $95（First year waived）
- Apply now>>